Day: 9 April 2011

Sovereign Debt: On the Default Road

April 9, 2011 By Malcolm Blair-Robinson

Slowly, very slowly, the truth is beginning to dawn. When borrowing gets out of hand it forms a dark and virtuous circle. Eventually the interest payments are such a drag on the economy that they hold it in stagnation, making reduction of the loans a sheer impossibility. Greece, Ireland and Portugal are already there. Without  defaulting, they […]